Daily Rare Coin Update
January 29, 2009 – Rare coin investing continues to gain its popularity as a safe haven investment as investors are staying away from equities and anything else tied to the United States Dollar that is destined to not do too well in the next several months. Even though precious metals are gaining in popularity right now, rare coin investing has been predicted to make even more powerful gains than the standard bullion products as they have historically done in the past. The economy right now is going through some seriously troubling times, and many major corporations have lost massive percentages of their profit and as a result they have had to lay off several thousand employees. This being done over the last year or so has accumulated a current total of 4.78 million unemployed Americans and it’s only getting worse by the day. The only hope can come from President Barack Obama’s finally approved $819 billion stimulus plan that is supposed to create roughly 4,000,000 new jobs while at the same time cutting taxes for many individuals and businesses and providing relief for those who’ve lost their jobs and homes.
The latest gold spot prices are at around $893.70 per ounce, an increase of $7.30 for the trading day and also an increase of $13.10 for the month. Silver on the other hand is also increasing, climbing $.12 to around $12.07 per ounce. Projections for both precious metals as well as rare coin investing continue to look positive and many market analysts are saying this will be one of the best years ever for both. Invest well and have a great day.
Arthur McGuire
Senior Staff Writer – Rare-Coin.org
